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Product Warranties
 6 Months Ended
Jun. 30, 2014
Product Warranties [Abstract]  
Product Warranties

 

NOTE 15.  PRODUCT WARRANTIES

We provide direct customer and end-user warranties for our products.  These warranties cover manufacturing defects that would prevent the product from performing in line with its intended and marketed use.  The terms of these warranties vary by product.  We collect and analyze warranty claims data with a focus on the historic amount of claims, the products involved, the amount of time between the warranty claims and their respective sales and the amount of current sales.  The following table summarizes the activity for the accrual of product warranties for the first six months of 2014 and 2013: 

 

 

 

 

 

 

 

 

 

2014

 

2013

 

Balance at January 1,

 
$
9.9 

 
$
11.5 

 

Reductions for payments

 
(7.0)

 
(8.4)

 

Current year warranty accruals

 
7.6 

 
8.2 

 

Preexisting warranty accrual changes

 
(0.1)

 
(0.3)

 

Effects of foreign exchange translation

 

 -

 
(0.2)

 

Balance at June 30,

 
$
10.4 

 
$
10.8 

 

 

The warranty provision and related reserve are recorded as a reduction of sales and accounts receivable.